Friday, August 14, 2020

Social Security and Medicare Funding

 I am concerned about the Donald Trump attack on the Payroll Tax that funds Social Security.  Half is paid by the employee and half by their employer, for a total of 15% of the wages of the employee.  Republicans, in general, have long been against Social Security since the 1940's.  

Medicare has a Trust Fund created by payments from both employees and employers.  Pro business interests have always been against Social Security and Medicare.  

My wife and I benefit greatly, at the age of 74, from Social Security and Medicare.  I want my children and grand-children have the same benefits in their old age.  We both worked and paid Social Security and Medicare from age 16 to age 70.  

I am against paying of benefits from these earmarked Trust Funds out of the General Fund.  I don't see how it will be funded consistently out of the General Fund.  

I favor the approach of Joe Biden and Kamala Harris in managing these invaluable U.S. Government services and programs.  

Thanks to FDR, Lindon D. Johnson, and George Bush II for creating these programs.   

 

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